Kayne Anderson Midstream/Energy Fund Provides Unaudited Balance Sheet Information and Announces its Net Asset Value and Asset Coverage Ratios at March 31, 2020
Kayne Anderson NextGen Energy & Infrastructure, Inc. (KMF)
US:NYSE Investor Relations:
kaynefunds.com/kmf/fact-sheet
Company Research
Source: GlobeNewswire
HOUSTON, April 02, 2020 (GLOBE NEWSWIRE) -- Kayne Anderson Midstream/Energy Fund, Inc. (the “Fund”) (NYSE: KMF) today provided a summary unaudited statement of assets and liabilities and announced its net asset value and asset coverage ratios under the Investment Company Act of 1940 (the “1940 Act”) as of March 31, 2020. As of March 31, 2020, the Fund’s net assets were $186 million and its net asset value per share was $3.93. As of the same date, the Fund had $148 million of cash on its balance sheet, including cash it has received since month end for securities it has recently sold. It is the Fund’s intention to comply with all applicable 1940 Act leverage tests as well as the covenants on its debt agreements and of its preferred stock. The Fund plans to prudently use its cash balance to reduce leverage levels over the next month in a way that minimizes prepayment penalties and maximizes shareholder value. As of March 31, 2020, the Fund’s asset coverage ratio under the
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